Topic: Cryoptocurrency is now movable property in France. - page 4. (Read 429 times)
Good that it lowers the taxes involved, but not good that it's not considered currency and who knows what kind of regulations wait in the wings for a non-currency asset that competes with the government's money monopoly.
This is still bad news for the crypto world...
Crypto currencies are currencies, as the name says, to be used as electronic payment and should not be taxed.
1. If you buy GBP with EURO, is GBP considered to be movable property? Of course not.
2. Let's say you buy GBP with EURO, if GBP increases in value compared to EURO does that mean you are making a profit and should be taxed? Of course not.
Mmm yeah, you need to pay tax for that. That thing called income tax. read here http://www.mrtaxman.com.au/blog/foreign-currency-trading and here https://money.stackexchange.com/questions/43586/tax-consequences-when-foreign-currency-changes-in-value Crypto currencies are currencies, as the name says, to be used as electronic payment and should not be taxed.
1. If you buy GBP with EURO, is GBP considered to be movable property? Of course not.
2. Let's say you buy GBP with EURO, if GBP increases in value compared to EURO does that mean you are making a profit and should be taxed? Of course not.
This is still bad news for the crypto world...
Crypto currencies are currencies, as the name says, to be used as electronic payment and should not be taxed.
1. If you buy GBP with EURO, is GBP considered to be movable property? Of course not.
2. Let's say you buy GBP with EURO, if GBP increases in value compared to EURO does that mean you are making a profit and should be taxed? Of course not.
Crypto currencies are currencies, as the name says, to be used as electronic payment and should not be taxed.
1. If you buy GBP with EURO, is GBP considered to be movable property? Of course not.
2. Let's say you buy GBP with EURO, if GBP increases in value compared to EURO does that mean you are making a profit and should be taxed? Of course not.
it is better to be properties than baned. Bitcoin is and cryptocurrency is banned in China is bad. In France as movable properties are good. There are many kinds opportunities for token holders to have properties. In this situation. People can have good wealth in the digital world.
this is somewhat a sad thing though. but it is expected since the altcoins are not really currencies despite what their name suggests. so it is only logical to consider them as property, commodity, security,... instead of considering them as a currency.
bitcoin is a whole different story though. even in Japan they only accepted bitcoin as a currency not the altcoins.
Sad but true, as most of people treat alts more like stocks, something they trade, not use and earn. It seems a bit weird that cryptos are considered to be property, though, since it means people will not be able to pay with them or declare the salary received in coins. bitcoin is a whole different story though. even in Japan they only accepted bitcoin as a currency not the altcoins.
While reducing the taxes from 45% from 19% sounds good, I think 19% is still unjustifiably high. People should feel encouraged to do business with cryptocurrencies legally. As they are used to paying no taxes, it would be best to set low tax fees (no more than 10%) at least for the time being. This would still be beneficial both for the government and for the crypto community. I don't understand why the taxes should be so high.
It is good to hear that cryptocurrency is being considered as a property, asset and the like, especially at a time when other countries are ignoring the new and yet inevitable invention under different pretexts. As to me, crypto cannot take over fiat money, given its volatility and its numbers. There are hundreds of coins and which coin can be considered as a fiat money. Only the government can issue only one digital currency which can have capacity to replace fiat money. Others will be put into other categories.
this is somewhat a sad thing though. but it is expected since the altcoins are not really currencies despite what their name suggests. so it is only logical to consider them as property, commodity, security,... instead of considering them as a currency.
bitcoin is a whole different story though. even in Japan they only accepted bitcoin as a currency not the altcoins.
bitcoin is a whole different story though. even in Japan they only accepted bitcoin as a currency not the altcoins.
The biggest bonus from this is, if you live in France and are a cryptocurrency investor or trader is the reduce amount of tax you now have to pay on your profits. 45% down to 19% is a huge win for bigger investors.
This something to ponder.
France consider a cryptocurrency is a movable property.
It is consider as a property instead of currency.
https://cointelegraph.com/news/france-crypto-is-now-moveable-property-tax-down-from-45-to-19-percent
France consider a cryptocurrency is a movable property.
It is consider as a property instead of currency.
https://cointelegraph.com/news/france-crypto-is-now-moveable-property-tax-down-from-45-to-19-percent
France is now ruled that cryptocurrency sales are in principle of the category of capital gains of movable property with some exemption. Movable property refers to tangible and intangible assets. France is generally supportive of cryptocurrencies and the country will take a lead in regulation.
This something to ponder.
France consider a cryptocurrency is a movable property.
It is consider as a property instead of currency.
https://cointelegraph.com/news/france-crypto-is-now-moveable-property-tax-down-from-45-to-19-percent
France consider a cryptocurrency is a movable property.
It is consider as a property instead of currency.
https://cointelegraph.com/news/france-crypto-is-now-moveable-property-tax-down-from-45-to-19-percent
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